#GBPUSD is at pivot, potential for a bounce!
Price is approaching pivot level at 1.37800 which is in line with 38.2% Fibonacci retracement level , 61.8% Fibonacci extension and horizontal overlap support. Price may potentially swing towards resistance at 1.38780 which is in-line with 100% Fibonacci retracement and 127.2%Fibonacci extension level.
Alternatively, price may drop to support at 1.37215 which is in line with 50% Fibonacci retracement and 61.8% Fibonacci extension level.
Pivot:
1.37800
Why we like it:
38.2% Fibonacci retracement level, 61.8% Fibonacci extension and horizontal overlap support
1st Support:
1.37215
50% Fibonacci retracement and 61.8% Fibonacci extension level
1st Resistance:
1.38780
100% Fibonacci retracement and 127.2%Fibonacci extension level
Trading FX & CFDs carries high risk.
Alternatively, price may drop to support at 1.37215 which is in line with 50% Fibonacci retracement and 61.8% Fibonacci extension level.
Pivot:
1.37800
Why we like it:
38.2% Fibonacci retracement level, 61.8% Fibonacci extension and horizontal overlap support
1st Support:
1.37215
50% Fibonacci retracement and 61.8% Fibonacci extension level
1st Resistance:
1.38780
100% Fibonacci retracement and 127.2%Fibonacci extension level
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.